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Aastha Spintex shares surge on planned dividend and 1:1 bonus issue
The company set Sept. 9 as the record date for the dividend and will seek shareholder approval at its AGM to raise authorized share capital to ₹100 crore.
Shares of Gujarat-based Aastha Spintex were locked at the 10% upper circuit at ₹80 on Wednesday, Aug. 26, bucking weakness in India’s small-cap segment, according to LiveMint Markets.
The move followed the company fixing Sept. 9 as the record date to determine shareholders eligible for a dividend. The company also said that its upcoming annual general meeting will consider and approve a 1:1 bonus issue and an increase in authorized share capital from ₹45 crore to ₹100 crore.
Aastha Spintex said its board approved the capitalization of up to ₹44.14 crore from eligible free reserves, securities premium, and capital redemption reserve as of March 31, 2026, to issue fully paid-up bonus equity shares of ₹10 each in a 1:1 ratio for existing shareholders.
The company also outlined a growth plan that includes forward integration into fabric manufacturing, supported by its acquisition of Falcon Yarns Private Limited, and expansion into value-added textile products.